Garware Technical Fibres has made investment by way of subscription to 93,94,444 equity shares of GBP 1.00 each, for aggregate subscription value of GBP 93,94,444 to be issued by its wholly owned subsidiary (WOS) namely Garware Technical Fibres UK, UK (GTF UK). The share capital raised by GTF UK shall be utilized for the acquisition of 100% of the issued equity shares of Offshore and Trawl Supply AS (OTS) and Advanced Mooring Supply AS (AMS), Norwegian Target Companies. On completion of above transaction OTS and AMS will become a Wholly Owned Subsidiaries of GTF UK and consequently, step-down wholly owned subsidiaries of the Company. The acquisition is likely to be completed on or before July 31, 2025.
Garware Technical Fibres is engaged in manufacturing and selling various products such as Ropes, Twine, Yarn, Fishnet, Other Nets and Technical Textiles.
